Brazil-based Abril, which raised about $240m in a July initial public offering after backing from South Africa’s Naspers, will reportedly buy 5.9% of Livemocha, a US-based English language-learning website.
According to newswire Reuters, Abril Educacao will use Livemocha to set up an English learning platform for Brazil’s emerging middle class.
Brazil accounts for about 2.2 million, or about a quarter, of Livemocha’s total customer base, according to Reuters.